Power equipment major Bharat Heavy Electricals (Bhel) has joined the race for Czech power utility company Skoda Power. Skoda Power, a subsidiary of Skoda Holdings, is a leading European manufacturer and supplier of technological equipment and provides customer services in the field of power generation. The bidding will be held online and Bhel will be competing with 15 other global companies.
Bhel officials said the company is in the race for acquiring the global business of Skoda Power, including its Indian operations. The total valuation of Skoda Holdings is said to be in the range of $17-20 billion.
The Czech company, which is expecting a revenue of Rs 1,608 crore in the current financial year from its global operations, had earlier announced its plans to launch the construction of a turbine production and assembly plant in India and decided to make an investment of Rs 266 crore in five years.